The Industrial Development Corporation and the SAB Foundation have partnered to create the Township Energy Fund, committing R15 million to fund renewable-energy solutions for small businesses in townships, rural areas and small towns.

The initiative will support alumni who have participated in the SAB Foundation’s entrepreneurial programmes over the past 10 years.

“We surveyed our entrepreneurs, which revealed that 60% of businesses have experienced a reduction in production capacity due to load shedding,” said Bridgit Evans, Executive Director of the SAB Foundation. “This not only affects their current operations but also hampers future growth and expansion for these business owners.”

The fund will support businesses in high-energy-consuming sectors such as retail, construction, hospitality, mining, agriculture and manufacturing. Grants will range between R50 000 and R250 000, based on a needs analysis to ensure customised support.

“Through the rollout of the Township Energy Fund, we aim to provide these businesses with the resources they need to adopt renewable-energy solutions, reduce their operational costs and focus on growth rather than survival,” said Evans.

“We will prioritise green energy solutions. The electricity crisis in South Africa is a major issue affecting small businesses, eroding their income and threatening their viability. While this initiative addresses the current crisis, green energy means a long-term reduction in operating costs, hopefully leading to increased profitability, resulting in a much more sustainable future,” Evans said.